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How to Take Care of Your Money So Your Money Takes Care of You In Your 40's

The Four Steps To Financial Freedom - Sean Toh
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Step1 - The road to financial freedom is to have great health so that you are in good shape to learn.

 

Step 2 - An open mindset to start learning and practicing what you have learned.
Step 3 - Investing your time in your financial & health education so that you are in control of your life to create wealth to enjoy a better life.

 

Step 4 - Enjoy the wealth that you have created because you have been taking care of your health.


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In your 40s…

Draw up a revocable living trust with an incapacity clause

Though it's best to have both a will and a trust, a trust eliminates the lengthy probate court process required to validate a will. A lawyer can draw up the document for you, but you can also create one yourself with several software programs. You'll then need to hire an estate lawyer to review your work.

Save for your retirement before the kids' college tuition

Don't shortchange yourself—the kids can get loans for school but you can't get loans for retirement. Max out your 401(k) and, if you're eligible, a Roth IRA. To find out how much you need for a secure future, visit smartmoney.com/retirement.

Once you're on the track to a comfortable retirement, visit savingforcollege.com for tips on funding your children's education.

By Suze Orman


   
 

 

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Credit Plus Health By Sean Toh All rights reserved.